Automation of SACCOs - FSD Kenya

Customer data
management
All details about a customer can be viewed from the customer enquiry screen. It
provides comprehensive customer data including all FOSA and BOSA accounts and
transaction details, internal loan arrears and interest arrears account details (subaccount
to main loan account), loan details including schedule, income history, and
guarantors. A user can view the financial position of a customer at a glance.
Customers can be identified by a unique reference number.
The system can capture images of the customer, its signature and ID card using a
webcam and a scanner.
The system employs an “earmark” feature that can capture and display information
about a customer to every system user as a reminder/warning.
AUTOMATION OF SACCOS: ASSESSMENT OF POTENTIAL SOLUTIONS • 63
Integration with biometric devices
for verification is planned but not
yet enabled.
BoSA Strengths Weaknesses / For further
investigation
BOSA products (configuration)
Share and dividend processing
Loan application processing The user is guided through the loan issuing process and can confirm the completeness
of the details with the help of a checklist.
The tools section includes screens to parameterise loans which are detailed,
comprehensive, and yet clear.
The default appraisal and approval process is straightforward and succinct. It can be
tailored to build on shares, the 2/3 rule, guarantors or other collateral.
The user can choose if and how to compound interest.
Charging penalties is enabled for pre-payments.
The insurance premium can be charged specifically.
Defining charges for preferential treatment is possible.
The system has a very efficient search functionality to identify guarantors.
Disbursement options can be varied.
The system can capture the purpose of the loan to support marketing and product
development.
Customer data
management
The application has a strong customer data structure where the member number is a
unique and logical amalgamation of branch ID, product codes and serial number e.g.
A05-001\00275-01.
The screens to register members are logical and clear.
The identification features are robust (photo, ID, and signature).
Restrictions are used to ensure use of the ‘four-eyes’ principle and authorisation of
transactions.
Microfinance functionality is only
provided through an additional
module.